HashiCorp (NASDAQ:HCP) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Sunday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Up 0.0 %

HCP stock opened at $34.19 on Friday. The business’s 50 day simple moving average is $33.87 and its 200 day simple moving average is $33.77. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.33. The firm has a market capitalization of $6.99 billion, a PE ratio of -56.05 and a beta of 1.21.

Insider Buying and Selling at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $33.82, for a total transaction of $1,214,273.28. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,406,400. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 244,844 shares of company stock valued at $8,303,342 in the last three months. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Large investors have recently bought and sold shares of the business. State Street Corp lifted its stake in HashiCorp by 14.5% in the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after purchasing an additional 282,965 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in shares of HashiCorp during the 2nd quarter valued at $11,407,000. Geode Capital Management LLC grew its position in HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after acquiring an additional 385,118 shares during the last quarter. K2 Principal Fund L.P. acquired a new position in HashiCorp in the 2nd quarter worth about $2,966,000. Finally, Alpine Associates Management Inc. raised its position in HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after purchasing an additional 701,350 shares during the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

About HashiCorp

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.